Mereo BioPharma Group’s (MREO) “Overweight” Rating Reiterated at Cantor Fitzgerald

Mereo BioPharma Group (NASDAQ:MREO)‘s stock had its “overweight” rating reiterated by Cantor Fitzgerald in a report issued on Tuesday,Benzinga reports. They presently have a $7.00 price target on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 171.32% from the company’s current price.

Several other research analysts have also recently issued reports on MREO. Lifesci Capital started coverage on shares of Mereo BioPharma Group in a report on Tuesday, December 24th. They issued an “outperform” rating and a $10.00 target price for the company. Needham & Company LLC restated a “buy” rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a report on Monday, January 13th. Finally, Jefferies Financial Group initiated coverage on shares of Mereo BioPharma Group in a report on Friday, December 6th. They issued a “buy” rating and a $7.00 target price for the company. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $7.83.

Mereo BioPharma Group Stock Performance

Shares of Mereo BioPharma Group stock opened at $2.58 on Tuesday. The company has a fifty day simple moving average of $2.83 and a 200-day simple moving average of $3.59. Mereo BioPharma Group has a 12-month low of $2.25 and a 12-month high of $5.02.

Institutional Trading of Mereo BioPharma Group

Large investors have recently bought and sold shares of the business. Newbridge Financial Services Group Inc. acquired a new stake in Mereo BioPharma Group during the 4th quarter worth $37,000. Jump Financial LLC purchased a new position in Mereo BioPharma Group during the 4th quarter worth $39,000. Sheets Smith Investment Management purchased a new position in Mereo BioPharma Group during the 4th quarter worth $59,000. Virtus ETF Advisers LLC purchased a new position in Mereo BioPharma Group during the 4th quarter worth $67,000. Finally, Avanza Fonder AB purchased a new position in Mereo BioPharma Group during the 4th quarter worth $69,000. Institutional investors and hedge funds own 62.83% of the company’s stock.

About Mereo BioPharma Group

Mereo BioPharma Group plc, a biopharmaceutical company, develops and commercializes therapeutics for the treatment of oncology and rare diseases in the United Kingdom, the United States, and internationally. It develops Etigilimab (MPH-313), an antibody T-cell immunoreceptor with Ig and ITIM domains, which is in Phase 1b clinical trial for the treatment of tumors.